The Financial Services and Pensions Ombudsman is currently dealing with 1,221 tracker mortgage related complaints. 

Of those, 723 complaints were received in 2018, according to a response from the Finance Minister to a parliamentary question from Fianna Fáil's Finance spokesperson Michael McGrath.

Minister for Finance Paschal Donohoe said the Financial Services and Pensions Ombudsman maintains the most effective and efficient way to provide redress and compensation to borrowers who have been wrongly denied tracker mortgages was for the banks to co-operate fully with the Central Bank Examination. 

"Therefore, whilst the examination was still underway individual tracker mortgage-related complaints were placed on hold pending confirmation that the Central Bank Examination had concluded in respect of those complainants," Minister Donohoe said. 

The Minister said a decision was taken in July to begin to take complaints that could potentially progress, off hold. 

He said the amount of time needed to investigate a complaint can vary depending on the number of submissions made by the parties.

He added that each complaint is considered on its own merits.  

According to the Minister, no legally binding decisions on trackers were issued by the Financial Services and Pensions Ombudsman last year.

"These figures show that a very significant number of cases involved in the tracker mortgage scandal remain in dispute between the borrower and the bank," commented Fianna Fáil's Michael McGrath. 

"Given that the Central Bank's Tracker Mortgage Examination is now at an advanced stage and further major changes are unlikely, it is time for the Ombudsman to start concluding some of the complaints before it," Deputy McGrath said. 

"We are now a decade on from the start of this tracker scandal and it is appalling there are still many mortgage holders waiting to be repaid what they were overcharged by their lender," he added.

In his reply, Minister Donohoe also told Deputy McGrath that the, now dissolved, Financial Services Ombudsman dealt with tracker complaints since 2009 and received about 2,000 complaints on the issue. 

Findings were issued in respect of 683 complaints and of these 15 (17%) were upheld, 59 (9%) were partly upheld and 509 (74%) were not upheld. 

A number of these findings directed financial service providers to restore tracker mortgages to complainants.